Hello Pezz, Today’s Report:
Besides this overview description of expectation Message 18949706 I am anticipating the following:
(A) Expiration of this trade Message 18253310
November 19th, 2002
(c) few dollops of Agnico Eagle Mines (AEM) at 11.93, and
(d) load of AEM May Put 12.5 and
(e) bunch of AEM May Call 12.5,
thus pocketing the USD 2.91/shr combined premium, USD 0.02 dividend, and be putted a load of AEM at 12.5, now priced by market at USD 10.65.
Net, net, I suffered a loss of 1% over 6 months, which no doubt will be made good with a well-timed covered call sale in a few days.
(B) Expiration of 50% of this trade Message 18247181
November 18th, 2002
(b) Harmony (HGMCY) May Put Strike 12.5 @ 1.40/shr
I do not need to do anything more complicated than closing out the position on my MS Money program, and keep the gift.
The other 50% of the trade was exercised against me at this point Message 18897343
April 30th, 2003
(c) Got notified that some eager Put owner jumped the gun on me and sold me a bunch of Harmony at USD 12.5 (current market price at USD 10.26), exercising a quarter of my shorted May 12.5 puts;
… but is OK, as the share is now trading at USD 12.95.
Yes, luck is most kind, and beats hard work, any and every day, as long as the good luck continues:0)
I figure I will sell AEM and HMY calls soon, but not just yet.
Chugs, Jay |
